Consulting and outsourcing firm Accenture has posted strong
full year results, and is confident about riding out the economic
downturn.
Annual sales increased 19% to £13.75bn and operating profits
jumped 21% to £1.77bn.
William Green, Accenture CEO, said, "We are very pleased with
our strong fourth-quarter and full-year performance, which
demonstrates our ability to deliver outstanding results, even in
challenging economic conditions.
"We had record bookings and maintained our focus on operating
discipline. We generated significant cash flow, we have no debt,
and our balance sheet is rock-solid."
Ovum anlayst John Madden said, "Part of Accenture's confidence
is tied to its belief that the economic turmoil has the potential
to open even more opportunities in consulting and outsourcing among
its global clients, some of which it has worked with for the best
part of a decade."
Madden said, "Despite the worldwide growth, it was clear that
Accenture wants to continue its year-long effort to bolster its
EMEA business - in particular the UK.
"Growth in Italy, France and Spain was offset by 'softness' in
the UK financial services and public sectors, according to the
firm. Accenture has zeroed in on its UK business, with an emphasis
on generating additional demand for management and technology
consulting services, and executives said they would continue to
focus on building the UK pipeline - a tall order as an IT spending
slowdown washes over European markets."